YABAO PHARM.CORP(SH:600351) Zheng Quan Shi Bao Wang·2025-12-16 08:17Core Viewpoint - The company, Yabao Pharmaceutical, is facing challenges in its pediatric drug segment, with a notable decline in revenue and increased scrutiny from regulatory bodies, despite a strategic focus on innovation and market leadership in pediatric medicine [1][2]. Group 1: Financial Performance - The company's pediatric drug revenue has shown a significant decline, with a drop of over 8% expected in 2024, alongside a more than 30% decrease in cardiovascular drug revenue [2]. - In the first half of the year, the company's overall revenue decreased by 21.08%, with pharmaceutical series revenue down by 19.13% and pharmaceutical wholesale revenue down by over 25% [2]. - Key products such as Dinggui Erqi贴 and Xiaosheng Zhitong贴 experienced sales declines of 10.6% and 14.47% respectively, while Honghua injection saw a 19.36% drop in sales [2]. Group 2: Executive Compensation - Despite the decline in performance, the company's chairman and several executives received substantial salary increases, with the chairman's compensation rising to 4.2749 million yuan in 2024, an increase of over 40% from the previous year [4]. - The vice chairman and general manager's salary increased by over 30% to more than 2.7 million yuan, while the salary of the board secretary rose by over 75% to more than 2.4 million yuan [4]. Group 3: Regulatory Scrutiny - The company was highlighted by the Tianjin Municipal Medical Procurement Center for having significant price discrepancies in its product "Lifupian," with a daily cost of 55.5 yuan compared to the minimum daily cost of 10.79 yuan for similar products, indicating a price gap of over four times [5].